New England solar installer ReVision Energy is acquiring Massachusetts-based Sunbug Solar. The acquisition means that ReVision Energy, the largest employee-owned solar installer in the country, will now be able to service more residents and business owners across Massachusetts, Maine and New Hampshire.
A larger ReVision Energy with more bandwidth will help Massachusetts reach Governor Maura Healey’s ambitious renewable energy goals, which include doubling solar targets, quadrupling energy storage deployment and putting 1 million electric vehicles on the road by 2030. ReVision Energy brings a holistic set of all-electric technology – heat pumps, heat pump water heaters and battery storage – to Sunbug, allowing customers to further reduce household dependence on fossil fuels. According to a recent state study, more than 10-times the current amount of solar will need to be installed to generate the 34 GW necessary for Massachusetts to reach its decarbonization goals. By working together, leaders of Sunbug Solar and ReVision Energy can do more installations, advocate more effectively for clean energy regulation, provide a comprehensive range of solar energy solutions, and increase beneficial electrification across New England.
“If we are to avoid the worst impacts of climate change, we need to reduce greenhouse gas emissions and transition to clean and renewable energy. This goal cannot be achieved alone or done in a way that leaves out vulnerable communities,” said Fortunat Mueller, CEO and President of ReVision Energy. “We’ve had a long relationship with Sunbug through our mutual membership in the Amicus Solar Cooperative, so we know our missions align to electrify the future in a fair and just way. Together, we will expedite the renewable energy revolution and help more Massachusetts residents access this valuable resource. We are excited to bring the Sunbug team on as ReVision Energy employee-owners.”
ReVision Energy established its Massachusetts branch in North Andover in 2017. Collectively, the two organizations have completed more than 4,000 installations in the Bay State and 18,000 across New England.
Sunbug Solar CEO Janice DiPietro will transition to a leadership role at ReVision Energy.
“The alignment between our two companies is extremely strong,” said DiPietro. “We share common values, processes, and an unwavering commitment to do right by our employees, customers, and the communities we serve. Our experience in the highly competitive Massachusetts solar market is that customers are looking for an energy company they can trust, and ReVision is the partner we trust to build on our 14-year reputation of unwavering quality.”
Both ReVision Energy and Sunbug Solar are B Corp-certified organizations and members of the Amicus Solar Cooperative, which represents values-driven independent solar companies.
The brand transition will occur gradually over the next few months and is expected to be complete in mid-2024. Once the deal is complete, Sunbug Solar’s offices in Woburn and Westfield will unite with ReVision Energy’s North Andover office and will all operate under the ReVision Energy brand to serve Massachusetts customers.
ReVision Energy is employee-owned and uses a structure called the Employee Stock Ownership Plan (ESOP). As part of the deal, Sunbug Solar’s 60 employees will join ReVision Energy’s team of 400 employee co-owners and become eligible to be employee-owners as well. Sunbug Solar’s 3,000 clients will be serviced by ReVision Energy’s team.
News item from ReVision Energy